EquityPandit’s Outlook for Zinc for the week  (April 03, 2017 – April 07, 2017) :

ZINC:

ZINC (180.40) closed the week on a negative note losing around 2.15%..

As we have mentioned last week that resistance for the commodity lies in the zone of 187 to 188. Resistance for the commodity lies in the zone of 194 to 196 where trend-line joining earlier highs is lying. If the commodity manages to close above these levels then the commodity can move to the levels of around 200 to 202 where top formed in the month of November-2016 is lying. During the week the commodity manages to hit a high of 186 and close the week around the levels of 180.40.

Support for the commodity lies in the zone of 176 to 178 from where the commodity broke out after consolidation and Fibonacci levels are lying. If the commodity manages to close below these levels then the commodity can drift to the levels of 168 to 170 where 200 Daily SMA is lying,

Resistance for the commodity lies in the zone of 183 to 184. Resistance for the commodity lies in the zone of 187 to 189 where the commodity has formed a short term top. If the commodity manages to close above these levels then the commodity can move to the levels of around 193 to 195 where trend-line joining earlier highs is lying.

Broad range for the commodity in the coming week can be seen between 170 – 172 on downside & 188 – 190 on upside.